Common use of NOTICE AND ELECTION Clause in Contracts

NOTICE AND ELECTION. (a) Upon the occurrence of an Event of Loss with respect to the Airframe, and any Engine or Engines installed thereon at the time of such Event of Loss, Lessee shall promptly (and in any event within 15 days after such occurrence) give Lessor and Mortgagee written notice of such Event of Loss. Within 45 days after such occurrence, Lessee shall give Lessor and Mortgagee written notice of Lessee's election to make payment in respect of such Event of Loss, as provided in Section 10.1.2, or to replace the Airframe, and any such Engines, as provided in Section 10.1.3. (b) Any failure by Lessee to give such notice of its election shall be deemed to be an election of the option set forth in Section 10.1.

NOTICE AND ELECTION. (a) Upon the occurrence of If an Event of Loss with respect to the Airframe, Airframe (and any Engine or Engines Engine(s) installed thereon at the time of such Event of Lossthereon) occurs, Lessee shall promptly (and in any event within 15 days after such occurrence, or, if later, within 15 days after the determination that an Event of Loss has occurred) give notify Lessor and Mortgagee written notice Owner Participant of such Event of Loss. Within 45 days after such occurrenceoccurrence or determination, Lessee shall give to Lessor and Mortgagee Owner Participant written notice of Lessee's ’s election to make payment in respect of such Event of Loss, as provided in Section 10.1.2§ 9.1.2, or to replace the Airframe, Airframe and any such Engines, Engine(s) as provided in Section 10.1.3§ 9.1.3. (b) Any Lessee’s failure by Lessee to give such the notice of its election described in § 9.1.1(a) shall be deemed to be an election of the option set forth in Section 10.1§ 9.1.

NOTICE AND ELECTION. (a) Upon the occurrence of If an Event of Loss with respect to the Airframe, Airframe (and any Engine or Engines Engine(s) installed thereon at the time of such Event of Lossthereon) occurs, Lessee shall promptly (and in any event within 15 days after such occurrence) give Lessor notify Lessor, Owner Participant and Mortgagee written notice of such Event of Loss. Within 45 60 days after such occurrence, Lessee shall give to Lessor (with a copy to Owner Participant) and Mortgagee written notice of Lessee's election to make payment in respect of such Event of Loss, as provided in Section ss. 10.1.2, or to replace the Airframe, Airframe and any such Engines, Engine(s) as provided in Section 10.1.3ss. (b) Any Lessee's failure by Lessee to give such the notice of its election described in ss. 10.1.1 (a) shall be deemed to be bE an election of the option set forth in Section 10.1ss.

NOTICE AND ELECTION. (a) Upon the occurrence of an Event of Loss with respect to the Airframe, and any Engine or Engines installed thereon at the time of such Event of Loss, Lessee shall promptly (and in any event within 15 days 10 Business Days after such occurrence) give Lessor and Mortgagee written notice of such Event of Loss. Within 45 days after such occurrence, Lessee shall give Lessor and Mortgagee written notice of Lessee's election to make payment in respect of such Event of Loss, as provided in Section 10.1.2, or to replace the Airframe, and any such Engines, as provided in Section 10.1.3. (b) Any failure by Lessee to give such notice of its election shall be deemed to be an election of the option set forth in Section 10.1.